I am selling my flat in Balham and the EA has just called to warn that the buyers are swapping property lawyer. I am told that this is due to the fact that the mortgage company will only deal with solicitors on their conveyancing panel. On what basis would a big named mortgage company only engage with specific lawyers rather the firm that they want to choose to handle their conveyancing in Balham ?
Lenders have always had an approved set of law firms that can represent them, but in recent years big names such as HSBC, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for many years.
Lenders attribute this action to a rise in fraud as the reason for the cull – criteria have been narrowed as a smaller panel is easier to oversee. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels. Plenty of firms are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The buyers are not going to have any sway in the decision.
Can the conveyancing lawyers Indexed on your site conduct auction conveyancing in Balham?
We know of a number of auction solicitors we can put you in touch with those conducting auction conveyancing. Balham is one of our areas of in which our lawyers have offices.
I am purchasing a garden flat in Balham. Can I do my own conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Balham you will have to appoint a solicitor on your lender's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Balham.
I just bought a property at auction in Balham. Conveyancing is required. What are my next steps?
Having exchanged you must hire the services of a conveyancing solicitor soon as you are facing a fast approaching a drop dead date to complete the transaction. An auction property should have an associated auction pack. This will likely include evidence of title and search results. In the case of leasehold premises the auction papers should include a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation specific to a leasehold property. You need to hand this to your appointed conveyancing solicitor ASAP. Do make sure that your finances are in place to complete on the date specified in the contract.
Is there a list of Kent Reliance panel conveyancers in Balham on the Council of Mortgage Lender’s Website?
Unfortunately not yet. There is no such tool on the Council of Mortgage Lenders or Building Society Association sites. A small selection of lenders make their panel listings visible on the web. Where you are looking for a Balham conveyancer on the Kent Reliance please use our tool.
is it true that all Balham solicitor firms on the TSB conveyancing panel are overseen by the SRA?
As a firm of solicitors, in order to be on the TSB conveyancing panel they would need to be governed by the SRA. Many mortgage companies do permit licenced conveyancers on their panel in which case such firms would be regulated by the CLC.
I need some fast conveyancing in Balham as I am faced with pressure to sign on the dotted line within 3 weeks. A mortgage is not required. Is it possible to decline from having conveyancing searches to save fees and time?
As you are not getting a mortgage you are at free not to do searches although no conveyancer would advise that you don't. With lots of history conveyancing in Balham the following are examples of issues that can arise and therefore impact market value: Refused Planning Applications, Outstanding Fees, Outstanding Grants, Road Schemes,...
I opted to have a survey carried out on a house in Balham ahead of appointing lawyers. I have been informed that there is a flying freehold element to the property. The surveyor has said that some mortgage companies tend not give a loan on such a property.
It varies from the lender to lender. Lloyds has different instructions from Halifax. If you contact us we can investigate further with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Balham. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Balham to see if the conveyancing costs will increase in light of this.